VEE.TO vs. BTCX-B.TO

Last updated Jun 13, 2026

VEE.TO (Vanguard FTSE Emerging Markets All Cap Index ETF) and BTCX-B.TO (CI Galaxy Bitcoin ETF C$ Unhedged Series Units) are both exchange-traded funds - VEE.TO is a Emerging Markets Equities fund tracking the FTSE Emerging Markets All Cap China A Inclusion Index, while BTCX-B.TO is a Cryptocurrency fund managed by CI Global Asset Management. Over the past 5 years, VEE.TO returned 7.31%/yr vs 13.52%/yr for BTCX-B.TO. At a 0.28 correlation, their price movements are largely independent. VEE.TO charges 0.25%/yr vs 0.80%/yr for BTCX-B.TO.

Performance

VEE.TO vs. BTCX-B.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) and CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEE.TO achieves a 12.66% return, which is significantly higher than BTCX-B.TO's -26.21% return.

VEE.TO

• 1D: 0.97%
• 1M: 1.13%
• YTD: 12.66%
• 6M: 13.92%
• 1Y: 29.56%
• 3Y*: 17.76%
• 5Y*: 7.31%
• 10Y*: 9.34%

BTCX-B.TO

• 1D: 0.31%
• 1M: -20.55%
• YTD: -26.21%
• 6M: -28.69%
• 1Y: -38.22%
• 3Y*: 36.16%
• 5Y*: 13.52%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VEE.TO vs. BTCX-B.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VEE.TO Vanguard FTSE Emerging Markets All Cap Index ETF	12.66%	19.32%	19.06%	6.24%	-12.79%	-1.64%
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units	-26.21%	-11.32%	139.01%	149.40%	-62.06%	-18.60%

Correlation

The correlation between VEE.TO and BTCX-B.TO is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021	0.28

The correlation between VEE.TO and BTCX-B.TO shifts across timeframes, from 0.25 (3 years) to 0.44 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VEE.TO vs. BTCX-B.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VEE.TO

VEE.TO Risk / Return Rank: 59
VEE.TO Sharpe Ratio Rank: 59
VEE.TO Sortino Ratio Rank: 59
VEE.TO Omega Ratio Rank: 62
VEE.TO Calmar Ratio Rank: 58
VEE.TO Martin Ratio Rank: 59

BTCX-B.TO

BTCX-B.TO Risk / Return Rank: 3
BTCX-B.TO Sharpe Ratio Rank: 2
BTCX-B.TO Sortino Ratio Rank: 3
BTCX-B.TO Omega Ratio Rank: 3
BTCX-B.TO Calmar Ratio Rank: 3
BTCX-B.TO Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VEE.TO vs. BTCX-B.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) and CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	VEE.TO	BTCX-B.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.72	-0.91	+2.64
Sortino ratio: Return per unit of downside risk	2.41	-1.28	+3.69
Omega ratio: Gain probability vs. loss probability	1.33	0.86	+0.47
Calmar ratio: Return relative to maximum drawdown	2.56	-0.76	+3.32
Martin ratio: Return relative to average drawdown	9.14	-1.30	+10.45

VEE.TO vs. BTCX-B.TO - Sharpe Ratio Comparison

The current VEE.TO Sharpe Ratio is 1.72, which is higher than the BTCX-B.TO Sharpe Ratio of -0.91. The chart below compares the historical Sharpe Ratios of VEE.TO and BTCX-B.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VEE.TO vs. BTCX-B.TO - Drawdown Comparison

The maximum VEE.TO drawdown since its inception was -29.84%, smaller than the maximum BTCX-B.TO drawdown of -75.26%. Use the drawdown chart below to compare losses from any high point for VEE.TO and BTCX-B.TO.

Drawdown Indicators

	VEE.TO	BTCX-B.TO	Difference
Max Drawdown Largest peak-to-trough decline	-29.84%	-75.26%	+45.42%
Max Drawdown (1Y) Largest decline over 1 year	-10.74%	-52.20%	+41.46%
Max Drawdown (3Y) Largest decline over 3 years	-14.97%	-52.20%	+37.23%
Max Drawdown (5Y) Largest decline over 5 years	-26.10%	-75.26%	+49.16%
Max Drawdown (10Y) Largest decline over 10 years	-29.84%	—	—
Current Drawdown Current decline from peak	-1.67%	-49.47%	+47.80%
Average Drawdown Average peak-to-trough decline	-8.72%	-33.02%	+24.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	30.26%	-27.25%

Volatility

VEE.TO vs. BTCX-B.TO - Volatility Comparison

The current volatility for Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) is 6.96%, while CI Galaxy Bitcoin ETF C$ Unhedged Series Units (BTCX-B.TO) has a volatility of 12.13%. This indicates that VEE.TO experiences smaller price fluctuations and is considered to be less risky than BTCX-B.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEE.TO	BTCX-B.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	12.13%	-5.17%
Volatility (6M) Calculated over the trailing 6-month period	13.66%	33.85%	-20.19%
Volatility (1Y) Calculated over the trailing 1-year period	15.97%	43.22%	-27.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.42%	53.90%	-38.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.01%	54.95%	-37.94%

VEE.TO vs. BTCX-B.TO - Expense Ratio Comparison

VEE.TO has a 0.25% expense ratio, which is lower than BTCX-B.TO's 0.80% expense ratio.

Dividends

VEE.TO vs. BTCX-B.TO - Dividend Comparison

VEE.TO's dividend yield for the trailing twelve months is around 1.93%, while BTCX-B.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTCX-B.TO CI Galaxy Bitcoin ETF C$ Unhedged Series Units	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VEE.TO Vanguard FTSE Emerging Markets All Cap Index ETF	1.93%	2.26%	2.45%	2.83%	3.35%	2.18%	1.62%	2.71%	2.24%	1.93%	2.01%	2.53%

Frequently Asked Questions

Can I hold both VEE.TO and BTCX-B.TO in my portfolio?

VEE.TO and BTCX-B.TO have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VEE.TO or BTCX-B.TO?

On fees, VEE.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VEE.TO or BTCX-B.TO?

VEE.TO is cheaper with a 0.25% expense ratio, compared with 0.80% for BTCX-B.TO.

What is the main difference between VEE.TO and BTCX-B.TO?

VEE.TO is categorized as Emerging Markets Equities, while BTCX-B.TO is Cryptocurrency. They also come from different issuers: Vanguard and CI Global Asset Management. Their fees differ too: 0.25% for VEE.TO and 0.80% for BTCX-B.TO.